IMF says global public debt to top $100 trillion, growth may accelerate

The IMF’s Fiscal Monitor report projects global public debt to surpass $100 trillion in 2024, reaching 93% of global GDP and nearing 100% by 2030, driven by spending on green transitions, aging populations, and security.

The report warns debt levels may exceed forecasts, with weak growth and fiscal uncertainty amplifying borrowing needs.

The U.S. and other nations may face costly consequences if fiscal consolidation is delayed. A cumulative tightening of 3.8% of GDP is needed to stabilize debts, but current efforts are insufficient.

The IMF calls for improved tax collection and more targeted spending reductions.